Humanity is community-driven to build a better world but has lost its way.
A community can now be a country and capture the value for themselves.
For too long, the communities who inspired us have been used as targets for big businesses, banks, and governments to extract value from them. It is time we rewrite this, as we now have the ability to allow a community to become a country with its own internal economy. To do this, we need to have:-
value exchange
governance
communications
asset building
We are now entering a new world where we can bring back the essential part of our communities: the ability to have a direct connection without intermediaries and allow our members to be true to their passion and truly grow.
Communities now have the power to out-compete the classical business model to thrive through the power of working together and being independent of big business models that are focused on value extraction and getting as close to the user as possible.
What is a Community?
We currently think of the community as our local sports club, the chess club, and other clubs or groups, but we don’t think of businesses as being a community. BUT community is everywhere; we have just been looking at this wrong. Community is about like-minded people, and many businesses have been built around this, and they can embrace this model. The Yoga Studio, Jazz Collective, group-owning farms, and home-schooling groups as a few examples of communities. We don’t see them this way as we have been educated not to see them for the benefit of big business and the business models that have been created to reinforce this thinking.
COMMUNITY IS THE NEW BUSINESS
Our Road Map
Value Exchange
Banks and businesses currently manage this and extract value from this which the community doesn’t get.
Now can have a community bank where the value stays inside the community, and everyone is paid at once in real-time.
Assets
Communities can own their own property and get a return from it in real time.
Instead of paying landlords, the community can access this value through fractional ownership allowing the buying and selling as you want and getting a rental return linked to success.
Governance
Voting has been driven by who has the most money or influence and no limits placed on when and how often.
This can be changed to be based upon contribution as another value or other formulas and can be driven where needed by the community.
Communications
Communications are now on own your own private network.
Instead of depending on products like Facebook, Twitter, and Instagram, you can now update members in real time without having to pay to bypass the algorithms that are designed to extract value or the spam filters that block you out.
Starting with a new ownership model
Everyone can own a brick
We see a world where the property's owners and users are on the same page to get a return and work together.
In traditional commercial property models, a large group of investors owns the property and rents it out to tenants to generate a return on investment. This often leads to a misalignment of interests between the tenants and the owners as they both strive for different goals.
However, a new asset fractionalization model now enables the community to own the property and can trade it as they wish, while aligning the returns for all parties involved.
We are implementing this with a property development group that purchases a property, fits it out, and then sells 50-75% of it back to the community. As rental payments are made, they go first to the property owner until they reach their required return, which a fixed-income investment model typically backs. The community owners then receive a percentage of the revenue once a minimum revenue target is reached, and their payments are automatically split based on their ownership share.
This model benefits both the property developer and the community owners. The developer is protected from middlemen deciding who gets paid first, decreasing their risks and making it a more attractive sale. The community owners are incentivized to make the community successful, ensuring a win-win model for everyone involved.
Starting with a new payment model
Pay everyone at once
We see a world where our money flows to the right people as soon as we spend it, never held by middlemen who we have no trust in, changing the whole way we think of worth and connection as now we have gone back to paying the real people behind the work directly.
The current centralized banking model we use for this is based upon the old model of handing over a coin or paper to one person who then will pass this on to the next person(s) based upon their rules and when they decide. This is a risk as these people are normally part of a business with constraints on when they can pay the next person(s) in the supply chain. They place your payment into their bank account to manage these constraints and then pay people to process these funds when rules are met. This imposes substantial costs on all that we all end up paying for. We created the banking system and regulation on business to create trust in this happening, but it incurs a high cost.
We are implementing this payment model linked to the ownership process of the property. With the payment for services, the teacher, marketing, and operations team are all being paid at once as the sale happens.
We are using the L1 blockchain from Celo Foundation as part of this change as they follow a similar path to us which they sum up in this beautiful video.
Our thinkings
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Why can't a community be a country?
Communities have always been confined to operating inside a country as the costs of governance, value transfer, communications have needed the scale of a country. Web3 rewrites this.
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Split payments changes the risk profile of a business
Current financing of a small business is risky as you have no real influence over what they do with the funds to pay back the financing, forcing many costly extra rules. Suppose the payment was auto-split at the start…
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The invisible banks costing us 10%
Small business is the invisible bank we deal with daily as they take our money and hold it before paying their suppliers or providers of a service they have facilitated. They don’t want to be that bank as it is a complete drain on …
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Blog
Where we talk about how we see this new changing world
Community Site
Bodymindlife has started the building of community-owned studios following the Kula Foundation model.
”You have the opportunity to own a part of a brick-and-mortar studio, exert influence on its operations, and foster a community that benefits everyone and creates resilience, which is especially important in today's environment.” - Phil Goodwin
Vault3
Pay everyone at once now
The current banking system forces business to hold and manage money as a bank which incurs costs and risks that we pay and breaks the connection we have and changes the value of worth. We can break this model through direct payments to all parties as it happens.
This allows a community to keep funds and even have their own fee operating to help the economy of the community. This is changing the value exchange to have worth and connection.
We started with Online Yoga
We built BodyMindLife Online to prove that regular educators could do it themselves and be rewarded. This was when we discovered the need to solve the community and payment model so we could allow the mission of truly rewarding our teachers.
